GDP growth targeted at 6.5 to 7% through 2020

China is aiming to maintain an average annual GDP growth rate of 6.5 to 7 percent until 2020, without aggressive stimulus or blind expansion of investment, said Vice-Premier Zhang Gaoli on Nov 1.

“If China can successfully achieve the 13th Five-Year Plan (2016-2020), we will avoid the middle-income trap, which will be a miracle in the world’s development history,” said Zhang, in his speech during the opening ceremony of the 2nd Understanding China Conference.

The conference, in Beijing, was jointly hosted by the government think tank China Institute for Innovation and Development Strategy, Chinese People’s Institute of Foreign Affairs and the US-based 21st Century Council.

“We predicted that from 2011 to 2015, the average annual growth rate would achieve 7.8 percent,” said Zhang.